Understanding super

Are you living the dream?

Have you ever sat back and wondered if you’re living the dream? Or how your dream of the good life compares to those around you?

Suncorp took that concept one step further and asked working Australians what their hopes, goals and dreams were as part of our ‘Living the Dream’ research.

The study found that you may not be much different from your neighbours over the back fence as you initially thought, especially when it comes to what we really value and prioritise in life.
With an estimated 11.5 million Australians heading off to work each day, it’s good to know that 9 out of 10 of us have dreams, goals and plans for our lives.
And thankfully we are not a superficial bunch either, with many of us desiring family, fun and happiness over power, wealth and fame.

That’s not to say that a few extra dollars in your retirement savings or a little runabout for a spot of fishing wouldn’t exactly be a bad thing.
Overall though, nearly 80 per cent of us said they were living the dream, while over 75 per cent of us are actively pursuing lifestyle goals.
Similarly, the research uncovered the determination of Aussie spirit to achieve what we want in life.

And what we want is to be home to tuck the kids into bed, have time to catch up with friends and take regular holidays.

More importantly, the majority of everyday working Australians have this balance.

On the financial flip side…

Alarmingly the report also revealed that one and a half million of us have no goals, dreams or plans for their lives, and 4.3 million Aussies have given up on some of their dreams.

And it’s the dreams, or lack thereof, we have around superannuation and retirement that are particularly concerning – especially as they play a large role in achieving some of our other life dreams.

Despite more than two thirds of us hoping to retire before the age of 70, more than 3 out of 10 people don’t plan for their retirement.

The study also found that Gen Y dream the biggest for their retirement years, with almost a quarter of them believing they will retire before age 55.Tips for Living your Dream

The good thing is that it’s never too late to take action and do something about making your dreams a reality.

Are you in your 40’s? Chances are you are busy and burdened with financial responsibilities, increased family commitments and work pressures. While your priority might be paying off your debts, it is important to keep your eye on contribution limits and benefit from tax advantageshttp://www.suncorp.com.au/super/making-contributions

Are you a Gen Y’er? You might be focused on immediate and medium-term goals like travelling and saving for a deposit on your first home. However now is a great time to start saving for longer-term goals;

Important Information

This is general information only and doesn’t take into account your personal objectives, financial situation or needs. Before making any decision about whether to acquire or continue to hold any financial product, please read the relevant information and the Product Disclosure Statement (PDS) and obtain professional advice. For Suncorp Everyday Super you should read and consider the Suncorp Everyday Super PDS and Product Guide. For Suncorp Brighter Super, please read and consider the Suncorp Brighter Super Personal Super and Pension PDS or for Suncorp Brighter Super Business Super please read and consider the Suncorp Brighter Super Business Super PDS. Everyday Super, and Brighter Super are part of the Suncorp Master Trust (Fund) (ABN 98 350 952 022, RSE Fund Registration No. R1056655). Suncorp Portfolio Services Limited (Trustee), ABN 61 063 427 958, AFSL 237905, RSE Licence No L0002059 is a related body corporate of Suncorp Group Limited ABN 66 145 290 124. The products referred to are not bank deposits or other liabilities of Suncorp Bank (Suncorp-Metway Limited ABN 66 010 831 722) (SML) and are subject to investment risk including possible delays in repayment and loss of the interest and principal invested. SML is not liable or responsible for, and does not guarantee or otherwise support, Suncorp Everyday Super accounts. SuperRatings Pty Ltd (ABN 95 100 192 283, AFSL 311800)(SuperRatings) does not issue, sell, guarantee or underwrite Suncorp Everyday Super. Go to www.superratings.com.au for details of its ratings criteria.

Before moving your superannuation you should consider: any fees payable (e.g. for exit or withdrawal); where future employer contributions will be paid; whether current insurance entitlements will be retained or equivalent cover made available; and any other possible impact, e.g. to your investments or tax position.

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Contact Us. Call us on 13 11 55. BSB is 484-799 for all Suncorp Bank branches.

Products and services including banking, superannuation and insurance (including home and car insurance but not life insurance) are provided by separate companies in the Suncorp Group. Life insurance is provided by Asteron Life & Superannuation Limited ABN 87 073 979 530, AFSL 229 880 (Asteron). Asteron is part of the TAL Dai-ichi Life Australia Pty Limited ABN 97 150 070 483 (TAL) group of companies. Suncorp is a distributor of Life Insurance products issued by Asteron. The different entities of TAL and the Suncorp Group are not responsible for, or liable in respect of, products and services provided by the other. Suncorp Bank ( Suncorp-Metway Ltd ABN 66 010 831 722 ) is only liable forthe banking products or services it provides and not the products and services of other companies in the Suncorp Group.